Long term care health insurance is available for those with ongoing disease and/or continuing disability. Long term care health insurance policy is also called LTCI, in some cases. This medical plan insures people who demand health care for an undetermined time period.
An individual's age does not influence the price of this policy. A fact of life is that many individuals, upon reaching retirement age, will need some type of long term care. It is estimated that 40% of people age 18 to 64 will need some kind of long term care.
This type of insurance is geared toward individuals that have difficulty performing basic activities. These may include getting out of bed, everyday hygienic tasks, and/or cooking. It can also include those better able to do the basic activities mentioned above, but unable to complete tasks such as grocery shopping.
Generally, this plan covers hospice care; daily assisted living;physical and occupational therapy;and visiting or live-in caregivers; as well as may other types of assistance. Often, people are embarrassed to ask their children for this kind of care. One's future is an important consideration. This kind of plan generally has some form of tax deduction and may be acquired independently or through one's employer.
There are policies that do not have any type of tax deduction, but the use and sale of these are falling out of use. Most everyone desires any and all tax deductions possible. It is important to read all of the fine print and ask questions. Speak with a live person and ask about anything that is unclear. It is perhaps wise, in some cases, to employ the help of an attorney.
A long term care plan may only cover the client in the country it was purchased in. Carefully read the contract in order to determine what care is covered in other countries. Again, contact customer service with any and all inquiries. Policies that include care in foreign countries generally only include certain types of health care.
The elimination period is another important consideration. This resembles a deductible and before some plans will cover anything it may have to be a year old. Many policies will begin to pay for long term care as soon as is necessary.
As with any important investment, it is vital that one shops around before paying for or signing anything. Companies offer long term care insurance quote and it is possible to quickly get many estimates at one time. This makes it easier to decide which is best for yours and your family's needs.
An individual's age does not influence the price of this policy. A fact of life is that many individuals, upon reaching retirement age, will need some type of long term care. It is estimated that 40% of people age 18 to 64 will need some kind of long term care.
This type of insurance is geared toward individuals that have difficulty performing basic activities. These may include getting out of bed, everyday hygienic tasks, and/or cooking. It can also include those better able to do the basic activities mentioned above, but unable to complete tasks such as grocery shopping.
Generally, this plan covers hospice care; daily assisted living;physical and occupational therapy;and visiting or live-in caregivers; as well as may other types of assistance. Often, people are embarrassed to ask their children for this kind of care. One's future is an important consideration. This kind of plan generally has some form of tax deduction and may be acquired independently or through one's employer.
There are policies that do not have any type of tax deduction, but the use and sale of these are falling out of use. Most everyone desires any and all tax deductions possible. It is important to read all of the fine print and ask questions. Speak with a live person and ask about anything that is unclear. It is perhaps wise, in some cases, to employ the help of an attorney.
A long term care plan may only cover the client in the country it was purchased in. Carefully read the contract in order to determine what care is covered in other countries. Again, contact customer service with any and all inquiries. Policies that include care in foreign countries generally only include certain types of health care.
The elimination period is another important consideration. This resembles a deductible and before some plans will cover anything it may have to be a year old. Many policies will begin to pay for long term care as soon as is necessary.
As with any important investment, it is vital that one shops around before paying for or signing anything. Companies offer long term care insurance quote and it is possible to quickly get many estimates at one time. This makes it easier to decide which is best for yours and your family's needs.
About the Author:
Jon Hendricks frequently writes about medical insurance.To know more about long term care health insurance visit the site.
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